Business
NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES KEY DECISIONS TO UNLOCK FUTURE VALUE
NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES KEY DECISIONS TO UNLOCK FU...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n \n \n \n NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES KEY DECISIONS TO UNLOCK FUTURE VALUE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n This news release constitutes a \"designated news release\" for the purposes of the REIT's prospectus supplement dated\n \n February 3, 2023\n \n , to its short form base shelf prospectus dated\n \n February 2, 2023\n \n .\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Aug. 8, 2023\n \n \n /CNW/ - Northwest Healthcare Properties Real Estate Investment Trust (the \"REIT\" or \"Northwest\") (TSX: NWH.UN) announced today several key decisions about its future direction and as part of the progression of its evolution as a global asset manager.\n \n \n \n Board Changes\n \n \n \n Northwest has appointed a non-Executive Chair of the Board, in line with governance best practices. Mr.\n \n Dale Klein\n \n , formerly Lead Independent Trustee, is now Non-Executive Chair.\n \n \n Mr.\n \n Paul Dalla Lana\n \n has stepped away from the Board of Trustees and has resigned as Chief Executive Officer to focus on initiatives at Northwest Value Partners Inc., the REIT's largest shareholder. \"It has been an honour to lead Northwest since the beginning,\" said Mr.\n \n Dalla Lana\n \n . \"I look forward to assisting Craig and the Board in ensuring a smooth transition.\"\n \n \n Ms.\n \n Laura King\n \n , Trustee, is appointed Chair of the REIT's Compensation, Governance and Nominating Committee. Ms.\n \n Maureen O'Connell\n \n , Trustee, is appointed Chair of the Audit Committee.\n \n \n \"On behalf of the Board, we wish to thank Paul for his leadership and invaluable contributions to Northwest,\" said Mr. Klein. \"From establishing the REIT, to taking it public in 2010 and stewarding operations across four continents, Paul has built the foundation for the business.\"\n \n \n \n Management Stability\n \n \n \n Northwest's global leadership team, experienced in healthcare real estate and asset management, remains to provide stability and continuit...